Assessing the Social Cost of Carbon
To assess the social cost of carbon for climate policies, the Dynamic Stochastic Integration of Climate and Economy (DSICE) model was developed. Its framework for stochastic integrated assessment of climate policies is based on the pioneering DICE integrated assessment model by William Nordhaus. DSICE computes the social cost of carbon in the presence of multi-layered risks, including climate tipping points, ecosystem risk and long-run risks to economic growth. DSICE has been developed by Yongyang Cai, Kenneth L. Judd and Thomas S. Lontzek.
”Stochastic Integrated Assessment of Climate Tipping Points Calls for Strict Climate Policy”
Nature Climate Change 2015
”Environmental tipping points significantly affect cost-benefit assessment of climate policies”
Proceedings of the National Academy of Sciences of the United States of America (PNAS) 2015